It's fascinating to observe the market and to see what's going on in it.
There are so many great projects that get created with very powerful ideas that can change everything for the best. But it always depends on the team and what they do with their project. They may improve it, work on marketing, enhance the development. Even though, it's all depends on how people like it and how many big investors will appear.
On the other hand, when the recent investors take a part in the governance. Things may change for the better or the worse. Investors may even manipulate the price the way they want it to go. They may spread fake news, they may just take wrong decisions, and they may help the project thrive. A lot is depending on them.
The same about the market and how other investors and the recent ones may see the project. If the project is taking the wrong direction, it will be clear by everyone. So, new investors will not join, and the old ones may go away. The same about all the formed community around the project. If it will not be satisfied, they will spread bad news about the project and nothing good will wait the price and the marketcap.
So, everyone related to the project, is responsible.